Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    615 Asheville Hwy Greeneville, TN 37743-5401
    Back to Search
    Property profile & analytics

    615 Asheville Hwy, Greeneville, TN 37743-5401

    View on Map
    • Retail space
    • 11,319 SF
    • 0.69 lot acres
    Off-Market
    Last Sale Nov 9, 2022
    $2,000,000
    Property ID
    US80-2495902
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,925,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ingles Markets / Specialty Food Shop / Supermarket
    • Greeneville West / Business Service Center / Corporate Office
    • Western Union / Bank / Credit Union
    • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service

    Property Details for 615 Asheville Hwy

    Year built
    2021
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.69 lot acres
    Zone code
    A-1
    Property type
    Retail space
    APN
    030110J G 04005
    APU
    030110JG04005

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 9, 2022 $2,000,000 Pernell Euclid Cerritos LLC Hutton Team LLC Special Warranty Deed —
    Mar 28, 2022 — Oreilly Automotive Stores INC Hutton Team LLC Lease —
    Jan 30, 2017 — Hutton Team LLC — Trustees Deed · related $1.2M · Iberiabank
    Jun 29, 2016 $450,000 Hutton Team LLC First Tn Bk NA Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,775,000
      ML approach
      $1,920,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,217,000
      Market price range: $320k - $1.22M
      AI Estimate
      $1,310,000
      Market price range: $453k - $1.31M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,505,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Greeneville
    County
    Greene
    State
    Tennessee
    Longitude
    -82.8476
    Latitude
    36.1447
    CBSA code
    24620
    CBSA name
    GREENEVILLE, TN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $50,080
    $387,080
    $437,160
    -
    $125,200
    $967,700
    $1,092,900

    Comparable in this City

    • Value Estimation by Request
      3,280 SF

      Cedar Crk Rd

      RETAIL STORES (PERSONAL SERVICES)
      Cedar Crk Rd, Greeneville, TN 37743
      View Details
    • Value Estimation by Request
      1,476 SF

      201 Church Hl Rd

      RETAIL STORES (PERSONAL SERVICES)
      201 Church Hl Rd, Greeneville, TN 37743-1861
      View Details
    • Value Estimation by Request
      2,664 SF

      1013 Main St

      RETAIL STORES (PERSONAL SERVICES)
      1013 Main St, Greeneville, TN 37743-4615
      View Details
    • Value Estimation by Request
      4,396 SF

      Mckee St

      RETAIL STORES (PERSONAL SERVICES)
      Mckee St, Greeneville, TN 37743
      View Details
    • Value Estimation by Request
      1,470 SF

      1931 Blue Spgs Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      1931 Blue Spgs Pkwy, Greeneville, TN 37743-8105
      View Details
    • Value Estimation
      $810,000
      7,308 SF

      Main St

      RETAIL STORES (PERSONAL SERVICES)
      Main St, Greeneville, TN 37743
      View Details

    Similar Nearby for Sale

    • New
      $699,999
      7,509 SF

      Spacious Greeneville Commercial Opportunity

      High-visibility commercial property on 2.1 acres with 7,509 sqft building.
      3124 W Andrew Johnson Hwy, Greeneville, TN 37743
      View Details
    • $2,000,000
      Pending

      Downtown Greeneville Liquor Store Opportunity

      Established liquor store with high sales volume and expansion potential.
      200 W Summer St, Greeneville, TN 37743
      View Details
    • Contact for pricing
      14,560 SF

      Greeneville, TN Retail Opportunity

      Long-term absolute net lease retail property in Greeneville, TN.
      104 Asheville Hwy, Greeneville, TN 37743
      View Details
    • $495,000
      1,480 SF

      Historic Landmark Investment Opportunity

      Turnkey business with expansion potential in a thriving countryside corridor.
      5990 Cedar Creek Rd, Greeneville, TN 37743
      View Details
    • $229,900
      3,325 SF

      Greeneville Commercial Building For Sale

      Spacious building, great potential, 0.51 acres.
      3942 Blue Springs Pkwy, Greeneville, TN 37743
      View Details
    • $49,900
      0.77 Acres

      Greeneville, TN Building Site

      0.77 acre building site with mountain views.
      80 Links View Dr, Greeneville, TN 37743
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo
      1,160 SF

      Greeneville Retail/Office/Warehouse Space Available

      Retail, office, showroom, and warehouse space for lease.
      403 W Summer St, Greeneville, TN 37743
      View Details
    • $450,000
      1,160 SF

      Greeneville Commercial Space Available

      Retail, office, showroom, and warehouse space for sale/lease.
      403 W Summer St, Greeneville, TN 37743
      View Details
    • Contact for pricing
      1,160 SF

      Retail, Office, and Warehouse Space

      Downtown Greeneville retail, office, showroom, and warehouse space available.
      403 W Summer St, Greeneville, TN 37743
      View Details

    Property Visit Statistics

    • Visits by month
      19.0k
    • Visitors by month
      8.3k
    • Avg Time on site
      21 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 Asheville Hwy
    Greeneville, TN 37743-5401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    615 Asheville Hwy, Greeneville, TN, 37743
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!